Engineering notes, post-mortems, opinions. We write when we have something to say, never on a schedule.
Every other token is sitting at the bottom of the bear market while HYPE is up 16%. A quick, informal primer on what Hyperliquid built, how the burn works, and how people actually make money on it.
Five agent-payment protocols shipped this year and the rails finally feel real. The bit nobody's shipping is the durable-workflow layer that turns thousands of sub-cent agent payments into one clean accounting story.
Two recent takes on what AI agents should output landed on opposite sides: rich interactive HTML, or guarded markdown. Both are right. The split that resolves it is who reads the output next.
$770m gone in DeFi this year, most of it through bridge primitives that fail the same way they did in 2022. The new wrinkle is that the attacker is now patient enough to spend six months targeting your humans instead.
Google's new Cloud Fraud Defence pits QR codes against agents. The cleaner answer is to make agents pay per request with x402, and verify the humans who genuinely need a quota with a wallet-bound proof of personhood that makes sybil farms uneconomic.
We call it DER (Delayed Entropy Resolution). It's a sequential-squaring construction with a Wesolowski proof, and for almost every game, lottery, and shuffle on chain it beats Chainlink VRF on cost, trust, and latency.
The customer-facing bar moves every few years, and in 2026 it sits at full API parity plus agentic access via MCP.
Why "fire and forget" doesn't survive contact with a chain reorg, and what we built instead.
A wei is one ten-quintillionth of an ETH, and most ledgers will round it to zero. The fix isn't precision; it's a small set of decisions you have to get right before you start.
A short note on why we started a deep-tech studio in 2026, and what we mean when we say we're "building at the edge".